LightSquared announced on Tuesday that the company plans to cut its workforce by 45% in an effort to cut costs. “This and other cost savings measures will allow LightSquared to continue to navigate the regulatory process as it works with the appropriate government agencies to find solutions to the GPS interference issue and bring its $14 billion privately funded wireless broadband network to more than 260 million Americans,” the company said in a statement to Reuters. Last week, the FCC announced that it would block the company’s planned 4G LTE network due to issues concerning GPS interference. LightSquared currently employs 330 people and according to Reuters, the company is not currently considering bankruptcy.
LightSquared plans to lay off 45% of its staff
Updated Dec 19th, 2018 7:47PM EST
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Dan joins the BGR team as the Android Editor, covering all things relating to Google’s premiere operating system. His work has appeared on Fox News, Fox Business and Yahoo News, among other publications. When he isn’t testing the latest devices or apps, he can be found enjoying the sights and sounds of New York City.
